The Companies Act, 2013, and the Companies (Registration of Foreign Companies) Rules, 2014, contain specific provisions to regulate the operations of companies incorporated outside India that have a business presence in India. These regulations are crucial for ensuring compliance and maintaining transparency in their operations within the Indian jurisdiction. /*! elementor – v3.12.2 – […]
Professional tax in Karnataka is a tax levied by the state government on salaried and self-employed individuals. It’s a state-level tax, and 17 states in India impose it, including Karnataka. The Karnataka Tax on Professions, Trades, Callings, and Employment Act, 1976, governs professional tax in Karnataka. The tax applies to various professions, trades, and employments, […]
194T – TDS on payment to partners from Partnership Firm Applicable from 01.04.2025 (FY 2025-26 onwards) Budget 2024 inserted a new provision in the Act stating that certain payments made to a partner by a firm shall be liable for TDS deduction in accordance with the provisions of Section 194T. Deductor – Partnership Firm / […]
A Letter of Undertaking (LUT) under GST is a document that allows exporters to export goods or services without paying Integrated Goods and Services Tax (IGST). This helps in avoiding the hassle of claiming refunds later. Who has to obtain LUT ? Any registered person availing the option to supply goods or services […]
Advance tax is a way of paying your income tax in installments throughout the year, rather than in a lump sum at the end of the financial year. This system is designed to help taxpayers manage their tax liability more effectively and ensure a steady flow of revenue to the government. Advance tax is a […]
W.e.f 1 July 2023, Finance Act 2023 has introduced certain changes to the Tax Collection at source (TCS) on Forex drawls/ remittances by Resident Individuals under LRS (Liberalised Remittance Scheme). Press Release Official Press Release – Link here Official Notifications Notification 20/2022 Finance Bill 2023 We request you to make note of the revised TCS […]
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